ASH Chemical to new high groundNice breakout to new high ground on Chemical Play. Bought 147 shares @109.32. 3.10% position.
Stop: 104.10
Risk:4.77%
Overall exposure now: 32.8%
ASH trade ideas
$ASH ready to move higher?Notes:
* Great earnings track record
* Very strong up trend
* Pays out dividends
* Breaking out of a ~7 month base with higher than average volume along with printing a pocket pivot
Technicals:
* Sector: Basic Materials - Chemicals
* Relative Strength vs. Sector: 4.49
* Relative Strength vs. SP500: 6.32
* U/D Ratio: 1.38
* Base Depth: 29.41%
* Distance from breakout buy point: 0.42%
* Volume 205.16% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just breaking out with high volume
* If you're looking for a better entry you can look for one around the $108.63 area
* Manage risk accordingly
ASH New All Time Highs Soon?ASH getting closer to New All Time Highs
7 Month Long Base
Technically perfect setup
But lack of Volume and Institutional Ownership is a concern
Measured Targets: 126 & 138
Ashland board authorizes a 12 percent increaseASH: Ashland Global Holdings In.
2022-05-26 20:00:00
Ashland board authorizes a 12 percent increase in quarterly dividend and new, evergreen $500 million common stock repurchase program
Ashland announces $450 million accelerated share repurchase progASH: Ashland Global Holdings Inc.
2021-09-03 07:00:00
Ashland announces $450 million accelerated share repurchase program
Technical Analysis Vs Fundamental AnalysisTA Vs FA
Both Technical and Fundamental analysis seeks to evaluate an asset.
In my opinion, these 2 major analysis methods are similar more than you think!
FUNDAMENTAL ANALYSIS
The FA involves the financial analysis of an asset by focusing on the underlying factors that affect that asset.
The assumption behind fundamental analysis is that the market does not always value assets (shares commodities, crypto, etc) correctly in the short term. Fundamental analysers try to identify the intrinsic value of assets to buy at a discount or sell at a high.
They believe their investment will pay off over time once the market realises the fundamental value of an asset.
TECHNICAL ANALYSIS:
The technical analysis seeks to evaluate a company by:
Using historical price, and
Using Volume data
to assess where the price of a security or market will move in the future.
This means technical analysers are looking at past patterns and trends to see if they are repeatable in the future.
one of the most important items in TA is the trend which shows a continuation of the current situation.
WHY DO I THINK THESE 2 ARE VERY ALIKE?
As mentioned, Fundamental analysis tries to identify the true value of an asset. For example for a company share price, FA will look at the company's balance sheet, cash flow statement, earnings reports, etc.
The technical analysis considers that there is no need to do this hard work as a company’s fundamentals are already accounted for in the price, and the information is reflected in the company’s charts. So we need to look at charts and use indicators to find the best entry prices and the market will follow the trend.
Many times if a financial report surprises traders we will see a spike in the price and depending on the nature of that news and other reports price may change direction or continue the previous trend.
ASH possible 9-12% gain within a couple weeksIchimoku Day View
ASH has been showing a rough ±10% consolidation past couple months.
Tenkan dipped below Kijun in the cloud
RSI dipped below 30 - looking for upward movement for possible entry @$70.63
ASH Short I engaged in a short position with ASH Strike $70, Put cost $2
Target is $65 Jan 18 exp,
Stop at $1, FED is pushing more rate hikes next year. Spy could continue going south.
